The long-running race track, which opened in 1968 and has featured oval, motocross and drag racing at the western edge of the Salt Lake Valley since then, will cease operations after the 2018 season, track officials announced Thursday.

The track property, which includes just over 50 acres, was sold in 2014. The new owners, Freeport West, granted RMR’s managers a five-year lease to continue operating at that time. But with plans to develop the parcel commercially, no renewal was offered, so 2018 will mark RMR’s 50th, and final year of operation.

The Young Automotive Group, which owns RMR, explored different options for extending the life of the track, including the possible purchase of a new property, where a another facility could be built. But that plan did not pencil out, and RMR’s attempts to find a public partner also fell short. However, a spokesperson said the company isn’t giving up on racing in the Salt Lake Valley.

“We’ve invested a great deal in the racing community, and we aren’t walking away from that,” Spencer Young Sr. said in a news release. “We will continue to sponsor racers and support racing.”

Track officials say plans are underway to create a memorable 2018 season across all three racing operations, including more than 140 events for the final campaign.

“Since this venue opened, so many memories have been made here,” general manager Mike Eames said in the release. “Life-long friendships have been created. People have met here through racing, developed their own love story, and are now married with children. If the Young Automotive Group didn’t create this incredible place, none of those memories would have been possible. We look forward to creating as many new memories as possible during our 2018 season.”